Will SHIB and DOGE skyrocket after Bitcoin halving?

Bitcoin halving occurs approximately every four years and is a built-in mechanism that slows down the process of creating new BTC so that the last BTC will be mined in more than a hundred years, despite the fact that more than 19.6 million Bitcoins already exist.

When the rate of production decreases, while the demand for an asset remains the same or increases, its price should, in theory, rise. Bitcoin’s three previous halvings so far have indeed served as catalysts for upcoming bull runs, but not just for the main cryptocurrency, the entire market has followed suit. Will this be the case now? Will it affect the two largest memecoins? Confused answers.

Aside from Bitcoin’s all-time high in early March, the current bull cycle has been driven primarily by memecoins. The two largest players – DOGE and SHIB – have been at the forefront, but this niche has also seen the emergence of many new players that have quickly attracted investors’ attention.

Nevertheless, we will focus on Dogecoin and Shiba Inu. The former is currently ranked eighth in terms of market capitalization, while its self-proclaimed killer product is four spots behind in the battle for memecoin leadership.

The halving should happen around April 19, and “Bitcoin’s price could continue to rise due to high demand.” Although the asset has retraced double digits since its ATH in March, this could actually be good news. As far as potential gains for SHIB and DOGE are concerned, the ChatGPT competitor said:

“Since Shiba Inu (SHIB) and Dogecoin (DOGE) often move in sync with Bitcoin, their prices could surge during the Bitcoin halving event.”

When it comes to Dogecoin, there are many predictions that the OG meme coin could jump to $1 during this cycle, which would mean a surge of as much as 5x from its current position.

On the other hand, the growing burn rate and growing number of transactions on Shibarium have been one of the bullish developments for the Shiba Inu ecosystem. As a result, SHIB predicts a 40% increase in the coming weeks and up to 300% in the following months.

Nevertheless, Perplexity warns that the cryptocurrency market is quite volatile.In addition, memecoin is known for its greater price volatility, so no matter how it moves in the future, you should remain vigilant in real time#Meme #SHIB #WIF #sui #狗狗币